Sponsored research by the South African Council of Shopping Centres (SACSC) shows that trading at shopping centres countrywide increased in 2015
The latest Investment Property Database (IPD) Retail Trading Density Index for the quarter to 31 December 2015, compiled in collaboration with the SACSC, tracks shopping centre performance using information from retail property owners and managers.
Released quarterly, the index takes into account super regional, regional, small regional, community and neighbourhood shopping centres. The index tracked 94 shopping centres with a combined gross lettable area of just more than 4-million square meters.
SACSC CEO Amanda Stops reports that for the year 2015 community centres outgrew other retail centre types by boosting trading density by 8.7% year on year. This was followed by small regional centres and regional shopping centres, with trading density growth of 6.2% and 5.6% respectively. South Africa’s mega-malls, or super regional shopping centres, notched up trading density growth of 4.9% year on year.
“Community centres achieved the highest average rand spend per square metre of retail space a month in the fourth quarter of 2015 for food and department stores,” says Stops. The food index includes grocers, liquor stores, sweets and speciality food stores. The department stores category includes mini and junior department stores.
“We can see that community centres performed a close second place for food services, after super regional malls,” says Stops. Food services include restaurants, coffee shops and fast food outlets.
“The IPD Retail Trading Density Index allows us to track and monitor the performance of shopping centres and their retailers in SA. It is valued as an important tool, considering the impact of varying social and economic factors affecting the retail sector.”